Baku, Azerbaijan, Nov. 18
By Khalid Kazimov – Trend:
French carmaker Renault has exported more than 80,000 cars to Iran over the first ten months of the current year.
According to a an announcement by the company, Renault’s car exports to the Islamic Republic has increased by 2.5 folds over the mentioned period, Tasnim news agency reported.
In a period of ten months between January and October 2016, the company sold 80,035 cars in Iran, indicating a surge of 167 percent year on year.
The European carmaker’s exports to Iran in the same period of time last year stood at 30,030.
Since last year’s historic nuclear deal signed between Iran and the world major powers, international bodies have observed a surge in interest among multinational companies in investing in the Islamic Republic’s largest non-oil sector, the automotive industry.
Iran’s automotive industry forms the second biggest sub-sector of the economy behind oil and gas, accounting for about 10 percent of GDP and employing about 4 percent of the labor force.
Iranian carmakers total output over the first half of the current Iranian calendar year (started March 20) stood at 579,776 indicating 15.6 percent rise year-on-year.